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Canopy Growth Corp. CGCCA:WEED said Friday it completed the sale of its BioSteel sports drink for gross proceeds of C$30.4 million ($22.4 million) in two separate transactions. Coachwood Group, a Canadian firm in the nutraceutical, sports nutrition, and health product sectors led by Dan Crosby, acquired all of the assets of BioSteel Canada. Canopy Growth sold assets of BioSteel Manufacturing to an unnamed third party. Canopy Growth announced on Nov. 17 it had found buyers for BioSteel’s two main business units but it did not provide a purchase price figure or names of the buyers at that time. Canopy Growth said the sale will strengthen its balance sheet. Canopy Growth’s stock is down by 75.8% in 2023, compared to a 51.2% drop by the Global X Cannabis ETF POTX.

Shares of Nio Inc. NIO fell 0.8% in premarket trading Friday, after the China-based electric vehicle maker reported November delivery growth that was well below that of its rivals. Nio said it delivered 15,959 vehicles in November, up 12.6% from the same period a year ago. The company said it’s November deliveries included 10,545 sport-utility vehicles and 5,414 sedans. Among other China-based EV makers, XPeng Inc. XPEV said Friday it delivered 20,041 EVs in November, up 245% from a year ago, while Li Auto Inc.’s LI November deliveries increased 172.9% to 41,030 EVs. Nio’s stock had gained 1.3% on Thursday, after closing Wednesday at the lowest price ($7.18) since June 26, 2020. It has tumbled 33.9% over the past three months through Thursday, while shares of XPeng have lost 11.2% and Li Auto’s stock has declined 12.7%. The iShares MSCI China ETF MCHI has eased 3.8% the past three months and the S&P 500 SPX has gained 1.2%.

Fisker's stock bounced Friday, after the electric-vehicle maker said it decided to cut December production to free up more than $300 million of liquidity.

Neiman Marcus Group LLC this week rejected a $3 billion offer to be acquired by Saks Fifth Avenue LLC, The Wall Street Journal reported Friday, citing people familiar with the deal. In the latest chapter of merger talks stretching back for more than a decade, the two luxury retailers are again looking to team up to gain more clout with designer brands. Although Neiman Marcus is open to a deal, the latest offer from Saks lacked a significant amount of cash, the WSJ report said. Neiman Marcus is privately-held, although the company has been publicly traded in the past. Hudson’s Bay Co. currently owns Saks Fifth Avenue.